ArcPy's PictureElement Object

The PictureElement object provides access to properties that enable its reposition on the page layout as well as changing the images source.  Like previous posts, to get a reference to the PictureElement using the ListLayoutElements() which produces a list of page layout element objects.

Example: Changing the Datasource of a Picture Element

import arcpy
mxd = arcpy.mapping.MapDocument(r"C:\temp\Project.mxd")
for elm in arcpy.mapping.ListLayoutElements(mxd, "PICTURE_ELEMENT"):
   if elm.name == "Logo":
      elm.sourceImage = r"C:\temp\NewLogo.bmp"
mxd.save()
del mxd